121 Southport Rd Spartanburg, SC 29306
- Auto shops
- 10,056 SF
- 1.31 lot acres
Current Use by Public Records
- Caliber Collision / Auto Body Shop / Auto Bodywork Mechanic
Property Details for 121 Southport Rd
- Year built
- 1982
- Construction
- METAL FRAME
- Lot size
- 1.31 lot acres
- Property size
- 10,056 SF
- Property type
- Auto shops
- APN
- 6-2500-16206
- APU
- 6250016206
Description
This exceptional Class A, single-tenant investment property features a 17,825 square foot Caliber Collision center in Spartanburg, South Carolina. Located at 121 Southport Rd, 29306, this property boasts excellent visibility and access on a high-traffic road (19,500+ vehicles per day) and is less than 1.3 miles from Interstate-26 (51,000+ VPD). The building, constructed in 1998 and renovated in 2014, sits on a 1.71-acre lot and consists of two, one-story buildings. The property is zoned GC and has a Net Lease (NN+) agreement with a credit-rated tenant backed by a corporate guarantee. The lease, commencing March 13, 2015, has approximately 0.4 years remaining with two five-year options. The current NOI is $107,191, with a pro-forma NOI of $113,623. Rent increases are tied to the CPI, with a maximum 6% annual increase every three years. This fee-simple ownership opportunity offers significant long-term upside potential due to the strong tenant, favorable lease terms, and prime location. The property's land value is estimated at $70-$130 per square foot. This is a rare chance to acquire a high-performing asset in a thriving market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,580,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,490,000
- 6.5%
- $1,615,000
- 7%
- $1,640,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,825,000
- Geo Method
- $1,640,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,625,000
- Retail
- $1,580,000
- Mixed-Use
- $1,575,000
- Hospitality
- $1,390,000
- Educational
- $1,345,000
- Residential Income
- $1,650,000
- Energy
- $1,410,000
- Income-Based Land
- $1,565,000
- Food Service
- $1,340,000
Location Insight
- Map
- Local Demand
- City
- Spartanburg
- County
- Spartanburg
- State
- South Carolina
- Longitude
- -81.9689
- Latitude
- 34.919
- CBSA code
- 43900
- CBSA name
- SPARTANBURG, SC METROPOLITAN STATISTICAL AREA
